Armenian government cancels loan debts of Artsakh Armenians before elections

The Armenian government said on Thursday it will cancel certain loan debts owed by Armenians displaced from Artsakh as the country approaches elections.

Under the decision, loans transferred to Armenia before 2023 and currently under enforcement will be forgiven. The measure covers debts secured by movable property — excluding gold items — where the principal did not exceed 5 million drams at the time of transfer.

Displaced citizens will also be released from paying enforcement-related fees, while restrictions on their property and bank accounts will be removed. The Compulsory Enforcement Service will close proceedings based on letters from the Finance Ministry, without requiring borrower involvement.